Latest Update in the SMM Pig Iron Market

DCE iron ore futures repeatedly, The main contract I2409 closed at 873.5 . some traders were negative to sell； The steel mills tended to be wait-and-see,

According to SMM research, the iron ore concentrate stocks of domestic mines were about 1 million mt, down about 130,000 mt MoM.

According to SMM, the capacity utilization rate of domestic iron ore mines in April was 57.2%, up 0.5% MoM.

In April, the domestic average price index of iron ores fell by 17 yuan/mt, but iron ore prices showed an upward trend overall.

The imports of iron ore and concentrate in April were 101.818 million mt, up 1.09% MoM.

Entering April, with the end of the heating season in the north, lumps entered the off-season.

DCE iron ore futures tight, The main contract I2409 closed at 865.5 . Traders ship according to market conditions. Some steel mills tended to be wait-and-see, and purchasing enthusiasm is not high. Today the overall market transaction atmosphere is acceptable.

On the import, data from the General Administration of Customs showed that China imported 658,000 tons of steel in April 2024, up 41,000 tons or 6.6% from the previous month, and up 12.48% YoY.